PORTFOLIO UPDATE AND PROPOSED EQUITY FUNDRAISE

RNS Number : 4321R

VPC Specialty Lending Invest. PLC

29 June 2015

 

29 June 2015

VPC Specialty Lending Investments PLC

Portfolio update and proposed equity fundraise

The Board of Directors (the "Board") of VPC Specialty Lending Investments PLC (the "Company") (ticker: VSL) is pleased to announce that the Company continues to execute on its capital deployment mandate and the Company has now invested approximately 87% of the net IPO proceeds. This is significantly ahead of the target to be substantially fully invested within six months of admission.

The Company's investment manager, Victory Park Capital Advisors, LLC continues to see a strong pipeline of investment opportunities within the specialty lending sector, with new capacity available from both existing and new platforms. As a result, the Board is pleased to announce that, in the absence of unforeseen circumstances, it intends to proceed with an issue of C shares in the Company pursuant to the Share Issuance Programme announced at the time of IPO. The issue of new C shares is currently anticipated to take place in September 2015. Further information will be announced in due course.

The Company anticipates its initial dividend in respect of the period from admission to 30 June 2015 will be declared in August 2015. The yield on the existing portfolio is in line with expectations in order to meet the targeted net dividend yield of 8.0 per cent. of the Issue Price per Ordinary Share once the net IPO proceeds are fully invested*.

*     This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or future results.

For further information, please contact:

Victory Park Capital Brendan Carroll (Senior Partner and Co-Founder)	via Newgate (below)
Gordon Watson (Principal, Investment Manager)
Jefferies International Limited (Corporate Broker)	Tel: [phone]
Gary Gould
Alex Collins
Newgate (PR adviser)	Tel: [phone]
James Benjamin Andre Hamlyn	Email: [e-mail]

NOTES:

VPC Specialty Lending Investments PLC invests in opportunities within the specialty lending market primarily through online lending platforms. The Company intends to generate an attractive total return for shareholders consisting of dividend income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily US and Europe) and credit bands. The Company expects to be substantially fully invested within a period of six months following Admission.

Since 2010, the Company's investment manager, Victory Park Capital, has been actively involved in the specialty lending marketplace and has made more than $3.3 billion of investments and commitments across a number of financial technology platforms, multiple geographies (U.S., U.K. and Europe), products (consumer and business) and structures (whole loans and senior credit facilities).

Further information on VPC Specialty Lending Investments PLC is available at www.vpcspecialtylending.com 

 

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